The US Federal Reserve decided to keep its benchmark interest rate unchanged in the 3.50 to 3.75 percent range during its first decision under President Kevin Warsh.
In the press conference, Warsh warned that the central bank will not tolerate elevated inflation, impacted by the war in Iran. The Fed’s projections consensus points to at least one 25 basis point hike in the remainder of the year.
According to Bank of Mexico data, the peso depreciated 0.15 percent against the dollar, placing the exchange rate at 17.36 units. Gabriela Siller, director of economic analysis at Banco Base, noted that the dollar reached a high not seen since April 6.
Kate Moore, director of investments at Citi Wealth, stated that the message from policymakers indicates that the path of rates does not point to lower levels in the short term. Banamex reported the dollar at 17.78 pesos for sale.
